§ MR. MARKHAM (Nottinghamshire, Mansfield)I beg to ask the Secretary of State for the Colonies whether, seeing that the Attorney-General, on 17th June, stated in the Transvaal Legislative Council that the Government of Lord Milner had framed the Precious Stones Ordinance with a view of keeping the diamond mines of the Transvaal as much as possible under one control, on the ground that the policy of the late Mr. Rhodes saved the diamond industry by limiting the output of diamonds, he will say, in view of the fact that the price of diamonds is artificially maintained by 697 the De Beers Company 500 per cent. above their natural value, if he will cable to Lord Milner that he cannot assent to legislation having as its object the creation of artificial prices to benefit a monopolist syndicate of financiers.
§ THE SECRETARY OF STATE FOR THE COLONIES (Mr. J. CHAMBERLAIN,) Birmingham, W.I do not know what the natural price of diamonds is—I should not have thought they had any—and I do not believe that the object of Lord Milner is to benefit a monopolist syndicate of financiers. I am not prepared to prejudge the questions raised by the proposed legislation, and I propose to wait till I receive the Ordinance in its final form together with Lord Milner's observations before I form or express any judgment upon it.
§ MR. MARKHAMI beg to ask the Secretary of State for the Colonies whether he has received from Lord Milner, Sir A. Lawley, or any other Transvaal official, any despatch, report, letter, or any communication whatsoever relating to the new Diamond Ordinance.
§ MR. J. CHAMBERLAINI have telegraphed on the subject to Lord Milner, and I am awaiting a full report by mail.